May 18, 2012 09:36 PM
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(Updated May 18, 2012 09:39 PM)
Please also visit the following website to see the complete stor as I couldn't fit in due to limited space on this page. *
https://blogs.rediff.com/thebravepedestrian/2012/05/01/hsbc-bank-india-uk-euro
pe-usa-cheats-nris-high-net-worth-individuals-portfolio-asset-wealth-management-m
ortgage/ C. THERE ARE HUNDREDS OF COMPLAINTS IN THE PUBLIC DOMAIN AGAINST HSBCfor its thuggish and cheating ways. There have been 560, 000 complaints since 2006, with over 38, 000 such complaints in 2010 – 2011 and 58, 000 complaints in 2009 - 2010. HSBC is skilled in focusing on people who are going through a crisis in their personal or professional lives, and are therefore unable to pay attention to their finances. Such people need someone to rely on, and HSBC Bank’s relationship managers are specialized in getting the customer to confide in them, and then systematically exploiting the ups and downs of their lives.(1) Browse these Google search results: https://tinyurl.com/HSBC-cheating-google(2) And this blog: https://tinyurl.com/Police-Complaints-HSBC-India
Dear Sir/Madam, Let me thank you for taking out the time to read this. I know, I have crossed the chain of command but it is after 6 moths of correspondence that I have decided to contact the highest authority possible. I am going to forward you some important emails but in a nutshell this is what I can tell you. 1) I was a HSBC customer for over three years and they gave me excellent service. 2) Ashish Jain sold 2 policies explaining the limited information, I have mentioned below. a) 3 years Lock in Period and funds can be taken out after three years but will be taxable. He said if you take out the funds after 5 years then there will be no tax.b) The word insurance was never mentioned, we were only told that it is an investment and will get 17% return. c) He never mentioned any charges on our funds. d) Penalty for withdrawal after 3 years was never mentioned. e) We were never told that non payment would lapse this policy and it would go into corpus which will draw 3.5% compound interest and there will be fund management charges not exceeding 6000.I found a lot of these facts recently and Summit Yadav at the insurance company was extremely helpful in giving these facts. I am not denying that I signed those papers but it was the mutual trust with HSBCthat assured us the validity of contract. It was my understanding that what was said verbally was also a part of the contract. I never knew that what was told verbally was nothing but a mere puff to sell the product. I am truly disappointed with HSBC as I have dealt with them in USA and Singapore. It is my humble request to you to please investigate my case and make a decision based on what was told verbally by Ashish Jain. Satyan Jethani
